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  • Georgia announces new rental assistance program

    State Issues

    On February 19, Georgia Governor Brian Kemp announced that Georgia has received $552 million from the federal government to implement a rental assistance program.  The Georgia Department of Community Affairs will be administering the Georgia Rental Assistance program (subject to the still-developing U.S. Treasury guidelines), which will make payments directly to the landlords and utility providers of eligible individuals. To qualify for the program, a household must have:

    • Qualified for unemployment benefits or experienced a reduction in household income, incurred significant costs, or experienced other financial hardship due directly or indirectly to Covid-19;
    • Demonstrated a risk of experiencing homelessness or housing instability; and
    • Have a household income at or below 80% of the Area Median Income (AMI), with priority given to: 1) households below 50% of the AMI, or 2) households with one or more individuals who have been unemployed 90 days or longer.

    Payments are generally capped at 12 months of rent and utilities, but may extend to 15 under certain circumstances. 

    State Issues Covid-19 Georgia Mortgages

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  • Georgia executive order requires telework, virtual conduct of business

    State Issues

    On December 8, the governor of Georgia issued an executive order requiring businesses considered to be “Critical Infrastructure” to implement measures to mitigate the spread of Covid-19, including telework for all possible workers and delivering intangible services remotely. The order authorizes the Georgia Department of Economic Development to issue further guidance to persons considered to be Critical Infrastructure, which includes the financial services sector.

    State Issues Covid-19 Georgia Financial Services

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  • Georgia extends “sheltering in place” requirements

    State Issues

    On April 30, the Georgia governor issued an executive order renewing the public health state of emergency, which was set to expire on May 13, for 30 days. The executive order extends the state’s “sheltering in place” requirements until June 12, 2020.

    State Issues Covid-19 Georgia

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  • Georgia governor issues renewal of state of emergency

    State Issues

    On April 30, Georgia Governor Brian Kemp issued an executive order renewing the public health state of emergency. The extension renews Kemp’s previous emergency order set to expire on May 13. The extension is valid for an additional 30 days and will expire on June 13.

    State Issues Covid-19 Georgia

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  • Georgia Department of Banking and Finance issues bulletin regarding lending, liquidity, business continuity, and regulatory reporting

    State Issues

    The Georgia Department of Banking and Finance has issued its monthly bulletin for financial institutions in which it provides guidance on lending, liquidity, business continuity planning, and regulatory reporting. Among other things, the department reiterates the importance of liquidity risk management during Covid-19 and urges financial institutions to consider the impact of certain scenarios on their liquidity. The department also provides questions that financial institutions should consider as part of their pandemic planning. The bulletin also notes that, for banks and credit unions, the department is implementing electronic document and payment submission for correspondence, applications, and requests, including any applicable fees.

    State Issues Covid-19 Georgia Lending Bank Regulatory Risk Management Bank Compliance Credit Union

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  • Georgia authorizes remote notarization

    State Issues

    On March 31, the governor of Georgia issued an executive order suspending requirements of Georgia’s property code that notarizations of deeds and other instruments to record interests in real property occur in person. Instead, any such requirement can now be satisfied by the use of real time audio-video conference. In addition, the order permits required witnesses to appear remotely.  The suspension will last until the state of emergency in Georgia is terminated.

    State Issues Covid-19 Georgia Notary Fintech

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  • Georgia governor issues shelter in place executive order for specific populations

    State Issues

    On March 23, Georgia’s governor issued an Executive Order ordering specific populations to shelter in place and limiting the number of persons gathered in a single location. The order does not address financial institutions or otherwise identify categories of essential business, and expires on April 6.

    State Issues Executive Order Georgia Covid-19 Governors

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  • Georgia Dept. of Banking and Finance issues closing guidance

    State Issues

    The Georgia Department of Banking and Finance issued a statement to Georgia state-chartered banks and credit unions regarding emergency closing notification procedures. The statement provides that Georgia state-chartered financial institutions have the discretion to close business operations in the event of a natural disaster or other emergency, including situations where an emergency is imminent. The Deputy Commissioner for Supervision must be notified in the event of a main office and/or branch closure, or an alteration of the normal delivery of banking services.

    State Issues Georgia Covid-19

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